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PwC tax partners face redundancy

According to industry insiders, the cuts are a part of long-running staff reductions following the merger of Price Waterhouse and Coopers & Lybrand, which was first announced in 1997, as well as the current uncertain economic conditions.

But it is unclear whether the cuts will be made before or after the beginning of its new tax year, which begins on 1 July.

Although a number of partners will leave, it is also expected eight partners will be recruited to the practice, while several tax partners are due to retire at the end of June.

A spokeswoman for the firm, said: ‘We will not know the precise number of partners we will recruit until the new financial year begins. Last year, however, we took on 46 partners in the UK in total.’

It has been another glittering night in the accountancy calendar. A range of practices big and small, plus outstanding individuals, have been rewarded for their efforts in the British Accountancy Awards 2016